A quick internet search on the term “list of ways to grow sales” brings up list after list of “proven ways” to grow sales. Most suggestions are sales and instant demand generation activities.
Why is there so much focus on sales and instant demand generation? Three fundamental reasons:
I love sales incentives that drive the behavior of the sales and distribution channel. Demand generation activities are absolutely necessary as part of the market mix. But, when it comes to real growth, the solution usually requires strategic shifts in the organization and the products and services it produces.
The Key to Real Growth: Strategic Changes
When a company is interested in creating significant fundamental growth, one or more strategic shifts must be made to the marketing mix. The goals are to create product demand, market share growth, and to hold a leadership position in the market. Here is a partial list of strategies that can be employed to create fundamental market shifts:
Which Strategies Are Best?
“Best” strategies are specific to each situation- the company, the products, the market, the local and global economies, the position in the marketplace, financial constraints, etc. Each situation is unique and requires analysis of the big picture and all aspects of the business: sales, marketing, manufacturing and/or product development, finance, and operations.
Inter-disciplinary teams, including sales, marketing, and finance, make the best decisions for growth strategies. Representatives from manufacturing, operations, and/or product development are needed to analyze the current situation, develop alternate scenarios, and create an implementation plan.
Go For the Big Gains
If a company really wants to make significant gains in revenue the obvious conclusion is to look at strategies that will provide growth, not just tactics that will make a temporary uptick in sales this month. Multiple strategies will often be employed simultaneously and will be launch with complementary sales programs and demand generation marketing.
Did you learn something new, or did I miss anything? Let me know in the comments below!